Mulvihill Top 10 Split Trust Announces Semi-Annual Results

Mulvihill Top 10 Split Trust (the "Fund") (TSX:TXT.PR.A)(TSX:TXT.UN) announces
results for the six months ended June 30, 2009. Net realized loss before
distributions amounted to $(8.2) million or $(2.76) per unit. Net assets were
$15.95 per combined security, net of distributions to capital unitholders in the
amount of $0.2 million or $0.05 per capital unit.


The Fund investment objectives for the Capital Units are (i) to provide holders
of Capital Units, upon redemption, with the benefit of any capital appreciation
in the market price of the securities in the Financial Portfolio and (ii) to pay
quarterly distributions to holders of Capital Units in an amount targeted to be
7.5% per annum of the net asset value of the Fund. The Fund's investment
objectives for the Preferred Securities are (i) to pay holders of Preferred
Securities fixed quarterly cash interest payments of 6.25% per annum on the
$12.50 principal amount of a Preferred Security and (ii) to repay the principal
amount of $12.50 per Preferred Security on termination of the Trust on March 31,
2011.


In order to generate returns above the dividend income generated by the
portfolio, the Fund may write covered call options in respect of all or part of
the securities in the portfolio. In addition, the Fund may write cash covered
put options in respect of securities in which the Fund is permitted to invest.


The Fund's investment portfolio is managed by its investment manager, Mulvihill
Capital Management Inc. Fund Preferred Securities and Capital Units are listed
on the Toronto Stock Exchange under the symbols TXT.PR.A and TXT.UN
respectively.




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Selected Financial Information : ($ Millions)
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Statement of Financial Operations
For the six months ended June 30, 2009
(Unaudited)

Revenue                                                      $  0.8
Net Realized Loss on Investments                               (7.5)
                                                             -------
                                                               (6.7)

Less:  Expenses                                                (0.4)
       Preferred Security Interest                             (1.1)
                                                             -------

Net Realized Loss Before Distributions                       $ (8.2)

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